Retail managed funds up $15.3bn

Lacklustre market performance resulted in the retail managed funds sector growing only 2 per cent in the June quarter, according to Strategic Insight Actuaries and Researchers.

“Most companies reported relatively little change in their retail funds under management,” the company said, noting that Commonwealth Bank/Colonial First State reported a quarterly growth rate of only 2.3 per cent, and Perpetual only 0.9 per cent.